TotalEnergies (TTE) Drops 3.59% Amid Renewable Energy Push

On April 4, 2025, TotalEnergies experienced a 3.59% drop in pre-market trading, reflecting investor sentiment and market dynamics.

TotalEnergies has recently expanded its presence in the renewable energy sector through strategic partnerships and acquisitions. The company has signed a joint declaration with European Energy to explore the vast potential of offshore wind energy in Denmark. This collaboration is part of a broader effort to advance renewable energy projects and low-carbon molecular initiatives, aligning with the global push for energy transition.

The partnership is particularly significant as it coincides with the state visit of Danish King Frederik and French President Emmanuel Macron, underscoring the deepening cooperation between the two countries in the energy sector. Denmark, a pioneer in offshore wind energy, offers an ideal environment for such projects due to its abundant wind resources and supportive policies.

TotalEnergies and European Energy are set to participate in upcoming Danish offshore wind projects, including Lillebælt Syd and Jammerland Bugt. These projects, with capacities of 165 MW and 240 MW respectively, are expected to provide clean energy to hundreds of thousands of Danish households annually. The projects have already received construction permits and grid connection approvals, with TotalEnergies holding a controlling stake. The projects are scheduled to commence operations by 2030, further solidifying TotalEnergies' leadership in the Danish and broader Nordic markets.

In addition to its offshore wind ventures, TotalEnergies has also made strides in the Chinese market. The company recently opened its first self-operated Quick Care Car Workshop in Wuhan, China, in collaboration with Baishun Car Care. This initiative marks a significant step in integrating lubricant services with fuel stations, enhancing customer experience and setting new standards in automotive maintenance. The partnership aims to leverage TotalEnergies' expertise in lubricants and Baishun's intelligent service system to elevate the quality of automotive aftermarket services in China.